Buying the land my property is on.

dori2o

I am a leaseholder, but as I am remortgaging, I'm considering using some of the equity I'm getting to buy the land my property is on.

I know there are 2 freeholders. Is it as simple as contacting them and asking what they would sell it for.

One of them is Northern Counties Housing Association (although my property has never been a northern counties/rented property).

Could I call themor is it best to write with the enquiry?

An help appreciated?

scrummy_mummy_2

Firstly, I don't know the answer to your question, but am eager to learn as it's an interesting one, as I own a property which is technically freehold, but 3of us (the other two also have separate freehold property on the land) own an equal share. No ground rents are payable...and I understand this is an unusual arrangement, cos they are sort of 'flats', but are entirely self contained and we all jointly own the freehold. I know in my case, the freehold cannot be sold in isolation from the physical property built on it...but obviously that's not the case in your position.

Do you pay ground rent at all?

My next door neighbour doesn't own his land (because the title was never transferred properly when the house was originally bought from the council in the '50's...I understand to solve his problem (he has told me) all he needs to do is pay £600 odd quid to the solicitor to make the necessary legal transfer, it's a formality so to speak.....but he doesn't pay ground rent either, I guess cos it was a mess up originally.

I am guessing it would be a simple case of writing and asking, in principle first, if they (the two freeholders) would be willing to consider selling the land. Once you get a reply then I guess you could move on to getting a valuation and possibly progressing a sale.

Hope someone else knows a bit more!

dori2o

when I bought the house it was mentioned that ground rent was payable at £10 per year (£5 to each freeholder) but we were given no details of where to send the payment, and have been told by our neighbours that someone used to come round every april to collect, but that stopped about 12 years ago.

dori2o

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